Air France-KLM has announced it will take a ‘majority stake’ in SAS.
The French-Dutch airline group says it will increase its stake in the Scandinavian airline from 19.9% to 60.5% with the Danish state keeping a 26.4% share, according to the Wall Street Journal.
The CEO of SAS, Anko van der Werff said that the investment would help SAS’s stability and competitiveness.
“Air France–KLM becoming the majority owner would mark a defining moment for SAS and a strong signal of confidence in the direction we’re heading…
“It brings not just stability but will also allow for deeper industrial integration and the full backing of one of the world’s leading airline groups, once regulatory approval has been obtained. Together, we will be better positioned to deliver greater value to our customers, our colleagues, and the wider region.”
Benjamin Smith, Air France KLM’s CEO, said that it was “a significant step forward in our ambition to build Europe’s leading airline group – one that delivers greater choice, stronger connectivity, and a more seamless travel experience for customers across the continent and beyond.”
For flyers with the airlines, the possibility of an expanded network, more aligned connectivity and better integration will be welcomed.
The hope is that there can be further work on the schedules of the airlines using the hubs of Paris Charles de Gaulle, Amsterdam Schiphol, and Copenhagen, at least from 2026 if and when the deal goes through. Since SAS is part of the SkyTeam alliance passengers can already benefit from shared loyalty programmes, lounge access, and coordinated schedules.
The mention from Anko van der Werff of ‘stability’ might also refer to an ability to access investment in fleet and services including onboard experiences.
Worries, however, include reduced competition, with potentially higher fares on some routes – especially within Scandinavia.
A larger grouping gives Air France KLM SAS the ability to be more competitive in places like the Gulf and China. On the other hand, some Scandinavian passengers may feel a loss of SAS’s traditional identity and local focus as it becomes more integrated into a larger multinational group.
For those working for the airlines, there could be internal restructuring that affects staff or operational bases, which might, in turn, indirectly impact service levels or regional connectivity.
The move continues the consolidation of Europe’s airline industry, with Lufthansa taking a 41% share of Italy’s ITA Airways with the Italian carrier becoming the fifth network airline within the German aviation group. Meanwhile the Portuguese government is seeking a new owner for state-owned TAP SA.
